PRESS RELEASE
MAG ONE Correction to Previously Amended Q3 FS and MDA and Continuous Disclosure Requirements
Vancouver, B.C., Canada – December 16, 2019 – Mag One Products Inc. (the “Company” or “Mag One”) previously amended its Q3 FS and MDA on December 4, 2019. The summary of the changes made were included within this December 4th News Release. Item number 6 from this News Release highlighted an update to Note #13 surrounding improved disclosure of the Tech Magnesium Agreement. Subsequent to filing the Amended FS and MDA the Company noticed that there was an error within this disclosure which has since been corrected in the newly amended FS and MDA. The error surrounds the total agreed upon aggregate payment to Tech Magnesium following the Company decision to acquire the technology.
Separately, the Company has recently filed redacted versions of the IQ Agreement and the Tech Magnesium amendment agreement which the Company hopes will satisfy the outstanding Continuous Disclosure Issues which resulted in the Company being placed on the BCSC default list.
On behalf of the Board, “Gillian Holcroft”, President & CEO.
Neither the Canadian Securities Exchange nor CNSX Markets accepts responsibility for the adequacy or accuracy of this news release.
About Mag One
Mag One is a technology, processing & production company. Using its game-changing technology, Mag One aims to be the most environmentally friendly & sustainable producer of magnesium (Mg) metal, ultrapure Mg compounds, by-products and vertically integrated co-products. For further information or questions respecting the Company kindly contact the Company via email at: info@MagOneProducts.com. Additional information can be found on the Company’s website at www.MagOneProducts.com or by viewing the Company’s filings at www.sedar.com.
Forward-Looking Information
Information set forth in this press release may involve forward-looking statements, including statements relating to reinstatement for trading on the CSE. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address a company’s expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: risks associated with marketing and sale of securities; the need for additional financing; reliance on key personnel; the potential for conflicts of interest among certain officers or directors with certain other projects; and the volatility of common share price and volume. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and except as required by law, the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements. For further information on risk, investors are advised to see the Company’s MD&A and other disclosure filings with the CSE regulators which are found at www.sedar.com.
__________